The ruling could have significant implications for student-loan borrowers — and consumers nationwide. As federal borrowers have been gearing up for the return to loan repayment in October, the agency cracked down on companies that it accused of illegally charging borrowers for normally free debt-relief services. The Supreme Court is hearing oral arguments on the case on October 3. The CFPB's enforcement actions against this type of illegal conduct are important to protecting borrowers' financial security and obtaining their money back." Now consumers will have to wait and see how the Supreme Court views a top federal consumer watchdog's constitutionality.

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Persons: Sen, Elizabeth Warren of Massachusetts, Shahid Naeem, Naeem, Dodd, Frank Wall, Bill Clark, Devin Watkins, they're, beholden Organizations: Service, Supreme, Financial, Community Financial Services Association of America Ltd, Consumer Financial, Federal Reserve, Fifth Circuit, Trump, Fifth, Financial Services Association of America, American Economic Liberties, Congress, Frank Wall Street Reform, Consumer, Federal Deposit Insurance Corp, Inc, Getty, Competitive Enterprise Institute, American Association of, Social Security Locations: Wall, Silicon, Washington , DC